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v3.10.0.1

New standards and interpretations not yet adopted (Tables) | 12 Months Ended
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Dec. 31, 2017
Text block1 [abstract] |
Summary of Impacts Due to the Adoption of New Standard | For the period 2017, the Company’s consolidated statement of financial position and the consolidated statement of profit or loss presents the following impacts due to the adoption of the new standard:
|  | 2017 |  |  | Transition impact |  |  | 2017 under IFRS15 |
ASSETS |  |  |  |  |  |  |  |  |  |  |  |
Current assets |  | $ | 1,198,488 |  |  | $ | — |  |  | $ | 1,198,488 |
Non - current assets |  |  | 2,846,473 |  |  |  | — |  |  |  | 2,846,473 |
Total assets |  | $ | 4,044,961 |  |  | $ | — |  |  | $ | 4,044,961 |
LIABILITIES AND EQUITY |  |  |  |  |  |  |  |  |  |  |  |
Current liabilities |  |  |  |  |  |  |  |  |  |  |  |
Air traffic liability |  | $ | 470,693 |  |  | $ | 6,475 |  |  | $ | 477,168 |
Frequent flyer deferred revenue |  |  | 13,186 |  |  |  | 4,011 |  |  |  | 17,197 |
Income tax payable |  |  | 3,700 |  |  |  | (820 | ) |  |  | 2,880 |
Other current liabilities |  |  | 559,450 |  |  |  | — |  |  |  | 559,450 |
|  |  | 1,047,029 |  |  |  | 9,666 |  |  |  | 1,056,695 |
Non - current liabilities |  |  |  |  |  |  |  |  |  |  |  |
Frequent flyer deferred revenue |  |  | 33,115 |  |  |  | — |  |  |  | 33,115 |
Other non - current liabilities |  |  | 1,059,205 |  |  |  | — |  |  |  | 1,059,205 |
|  |  | 1,092,320 |  |  |  | — |  |  |  | 1,092,320 |
Total liabilities |  |  | 2,139,349 |  |  |  | 9,666 |  |  |  | 2,149,015 |
Equity |  |  |  |  |  |  |  |  |  |  |  |
Issued capital |  |  | 28,504 |  |  |  | — |  |  |  | 28,504 |
Additional paid in capital |  |  | 72,945 |  |  |  | — |  |  |  | 72,945 |
Treasury stock |  |  | (136,388 | ) |  |  | — |  |  |  | (136,388 | )
Retained earnings |  |  | 1,574,781 |  |  |  | (4,524 | ) |  |  | 1,570,257 |
Net income |  |  | 369,658 |  |  |  | (5,142 | ) |  |  | 364,516 |
Accumulated other comprehensive loss |  |  | (3,888 | ) |  |  | — |  |  |  | (3,888 | )
Total equity |  |  | 1,905,612 |  |  |  | (9,666 | ) |  |  | 1,895,946 |
Total liabilities and equity |  | $ | 4,044,961 |  |  | $ | — |  |  | $ | 4,044,961 |
Operating revenue |  |  |  |  |  |  |  |  |  |  |  |
Passenger revenue |  | $ | 2,462,419 |  |  | $ | (18,442 | ) |  | $ | 2,443,977 |
Cargo and mail revenue |  |  | 55,290 |  |  |  | — |  |  |  | 55,290 |
Other operating revenue |  |  | 9,847 |  |  |  | 12,672 |  |  |  | 22,519 |
|  |  | 2,527,556 |  |  |  | (5,770 | ) |  |  | 2,521,786 |
Operating expenses |  |  |  |  |  |  |  |  |  |  |  |
Other operating expenses |  |  | 1,897,500 |  |  |  | — |  |  |  | 1,897,500 |
Sales and distribution |  |  | 200,413 |  |  |  | (157 | ) |  |  | 200,256 |
|  |  | 2,097,913 |  |  |  | (157 | ) |  |  | 2,097,756 |
Operating profit |  |  | 429,643 |  |  |  | (5,613 | ) |  |  | 424,030 |
Non - operating income (expense) |  |  | (10,675 | ) |  |  | — |  |  |  | (10,675 | )
Profit (loss) before taxes |  |  | 418,968 |  |  |  | (5,613 | ) |  |  | 413,355 |
Income tax expense |  |  | (49,310 | ) |  |  | 471 |  |  |  | (48,839 | )
Net profit (loss) |  | $ | 369,658 |  |  | $ | (5,142 | ) |  | $ | 364,516 |
The main components of the adjustment, for the period, are as follows:
| • |  | An increase of $6.4 million and $4.0 million in Air traffic liability and Frequent flyer deferred revenue, due to the change in the timing of revenue recognition related to exchange fee and other ancillary, from the sales date, to the departure date, and the change in the amount deferred for mileages credits due to sales from co-brand partner agreements resulting from the change from the residual method to the relative selling price method, respectively.
| • |  | A decrease of $4.5 million in retained earnings due to the impacts of the 2016 period.
| • |  | A decrease of $18.4 million in Passenger revenue by: $2.8 million due to the change in the timing of revenue recognition related to exchange fee and other ancillary, from the sales date, to the departure date; $15.4 million due to the reclassification between Passenger revenue and Other operating revenue of the revenue related to the sale and transfer of miles and cobrand agreements from our frequent flyer program, the sale of advertising space, and charter flights; and $0.2 million due the reclassification of denied board compensation from the Sales and distribution operating expenses to Passenger revenue.
| • |  | An increase of $12.7 million in Other operating revenue by: a decrease of $2.7 million due to the change in the amount deferred for mileages credits due to sales from co-brand partner agreements resulting from the change from the residual method to the relative selling price method; and an increase of $15.4 million due to the reclassification between Passenger revenue and Other operating revenue of the revenue related to the sale and transfer of miles and cobrand agreements from our frequent flyer program, the sale of advertising space, and charter flights.
| • |  | A decrease of $0.4 million in Income tax expense, and Income tax payable as a result of the transitions impacts.
For the period 2016, the Company’s consolidated statement of financial position and the consolidated statement of profit or loss presents the following impacts due to the adoption of the new standard:
|  | 2016 |  |  | Transition impact |  |  | 2016 under IFRS15 |
ASSETS |  |  |  |  |  |  |  |  |  |  |  |
Current assets |  | $ | 1,069,391 |  |  | $ | — |  |  | $ | 1,069,391 |
Non - current assets |  |  | 2,571,204 |  |  |  | — |  |  |  | 2,571,204 |
Total assets |  | $ | 3,640,595 |  |  | $ | — |  |  | $ | 3,640,595 |
LIABILITIES AND EQUITY |  |  |  |  |  |  |  |  |  |  |  |
Current liabilities |  |  |  |  |  |  |  |  |  |  |  |
Air traffic liability |  | $ | 396,237 |  |  | $ | 3,559 |  |  | $ | 399,796 |
Frequent flyer deferred revenue |  |  | 9,044 |  |  |  | 1,314 |  |  |  | 10,358 |
Income tax payable |  |  | 1,401 |  |  |  | (349 | ) |  |  | 1,052 |
Other current liabilities |  |  | 456,000 |  |  |  | — |  |  |  | 456,000 |
|  |  | 862,682 |  |  |  | 4,524 |  |  |  | 867,206 |
Non - current liabilities |  |  |  |  |  |  |  |  |  |  |  |
Frequent flyer deferred revenue |  |  | 26,324 |  |  |  | — |  |  |  | 26,324 |
Other non - current liabilities |  |  | 1,114,836 |  |  |  | — |  |  |  | 1,114,836 |
|  |  | 1,141,160 |  |  |  | — |  |  |  | 1,141,160 |
Total liabilities |  |  | 2,003,842 |  |  |  | 4,524 |  |  |  | 2,008,366 |
Equity |  |  |  |  |  |  |  |  |  |  |  |
Issued capital |  |  | 28,454 |  |  |  | — |  |  |  | 28,454 |
Additional paid in capital |  |  | 64,986 |  |  |  | — |  |  |  | 64,986 |
Treasury stock |  |  | (136,388 | ) |  |  | — |  |  |  | (136,388 | )
Retained earnings |  |  | 1,355,645 |  |  |  | (2,354 | ) |  |  | 1,353,291 |
Net income |  |  | 325,928 |  |  |  | (2,170 | ) |  |  | 323,758 |
Accumulated other comprehensive loss |  |  | (1,872 | ) |  |  | — |  |  |  | (1,872 | )
Total equity |  |  | 1,636,753 |  |  |  | (4,524 | ) |  |  | 1,632,229 |
Total liabilities and equity |  | $ | 3,640,595 |  |  | $ | — |  |  | $ | 3,640,595 |
Operating revenue |  |  |  |  |  |  |  |  |  |  |  |
Passenger revenue |  | $ | 2,155,167 |  |  | $ | (6,666 | ) |  | $ | 2,148,501 |
Cargo and mail revenue |  |  | 53,989 |  |  |  | — |  |  |  | 53,989 |
Other operating revenue |  |  | 12,696 |  |  |  | 4,000 |  |  |  | 16,696 |
|  |  | 2,221,852 |  |  |  | (2,666 | ) |  |  | 2,219,186 |
Operating expenses |  |  |  |  |  |  |  |  |  |  |  |
Other operating expenses |  |  | 1,760,348 |  |  |  | — |  |  |  | 1,760,348 |
Sales and distribution |  |  | 193,984 |  |  |  | (147 | ) |  |  | 193,837 |
|  |  | 1,954,332 |  |  |  | (147 | ) |  |  | 1,954,185 |
Operating profit |  |  | 267,520 |  |  |  | (2,519 | ) |  |  | 265,001 |
Non - operating income (expense) |  |  | 96,679 |  |  |  | — |  |  |  | 96,679 |
Profit (loss) before taxes |  |  | 364,199 |  |  |  | (2,519 | ) |  |  | 361,680 |
Income tax expense |  |  | (38,271 | ) |  |  | 349 |  |  |  | (37,922 | )
Net profit (loss) |  | $ | 325,928 |  |  | $ | (2,170 | ) |  | $ | 323,758 |

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